Thermoplastic Polyolefin (TPO) Market by Type (In-site TPO, Compound TPO, and Polyolefin Elastomers (PEOs)), Application (Automotive, Buildings & Construction, Medical, Electrical & Electronics, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026764 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed the US$ 5 billion mark in 2022 and is expected to hit US$ 8 billion by 2030, recording a CAGR of 6.3% during the forecast period.

The thermoplastic polyolefin (TPO) market is significantly increasing with rising demand from multiple industries.   

The rise in demand for thermoplastic polyolefin in interior and exterior of automotive, steady growth in building and construction activities in developed and developing economies and increasing use of thermoplastic polyolefin waterproofing membrane in repair and maintenance activities are some of the major factors driving the growth of the market. The compound TPO segment is expected to pace up owing to rising demand from industries such as building & construction, automotive, and others. In-site TPO, and polyolefin elastomers segments has anticipated to grow at a steady rate during the forecast period.

Within the report, the market is segmented into type, application, and geography. By type, the market is further segmented into in-site TPO, compound TPO, and polyolefin elastomers (PEOs). On basis of application, the market is segmented into automotive, buildings & construction, medical, electrical & electronics, and others.  Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Rising demand for natural and environmentally friendly polymers

Thermoplastic polyolefin are resin blends of polypropylene (PP) and un-crosslinked EPDM rubber and polyethylene. They are characterized by high impact resistance, low density, and good chemical resistance. Increased regulation in food packaging, automotive, medical, and other end use industries to reduce pollution by minimizing hazardous wastage, reducing energy consumption, and increasing safety and recyclability of materials, has surged adoption of sustainable products. This has resulted in increased use of thermoplastic polyolefin, by replacing natural rubber, synthetic rubber, PVC, and silicone.

Increasing demand from automotive industry is accelerating market growth.

The growth in automotive industry in emerging economies such as India, China, and Brazil has propelled the growth of thermoplastic polyolefin market. The growth is attributed to increased demand for lightweight and robust auto parts, and rising demand for vehicles with improved fuel efficiency. The use of thermoplastic polyolefin in various interior and exterior parts of automotives have helps to reduce the weight and offers same properties like metal.

Recent strategic developments in thermoplastic polyolefin market

The thermoplastic polyolefin market has undergone several significant developments, and a few of these have been mentioned below:

  • In December 2020, Ineos Group announced the acquisition of 100% shares in its joint venture of “Gemini HDPE” with Sasol Chemicals.

The thermoplastic polyolefin market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Mitsui Chemical, Inc, Exxon Mobil Corporation, SABIC, Sumitomo Chemical Co., Ltd, and LyondellBasell Industries N.V. are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Thermoplastic polyolefin related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Application industry of thermoplastic polyolefin industry
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • In-site TPO
    • Compound TPO
    • Polyolefin Elastomers (PEOs)
  • Application:
    • Building & Construction
    • Medical
    • Automotive
    • Electrical & Electronics
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Mitsui Chemical, Inc
    • Exxon Mobil Corporation
    • SABIC
    • Sumitomo Chemical Co., Ltd
    • LydondellBasell Industries N.V.

The List of Companies
- Mitsui Chemical, Inc
- Exxon Mobil Corporation
- Sumitomo Chemical Co., Ltd
- LydondellBasell Industries N.V.

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